The Purchase Process

If you have never owned a condo before, the purchase process can seem very overwhelming. But do not despair, these steps will guide you through the buying process and before you know it you will be the proud new owner of a condo.

1. Check your credit rating and clean up your credit. Buying a condo or house requires you finances to be in order. Nothing is worse than finding the condo of your dreams only to have your mortgage application fall through.
2. Learn about the different mortgage types and decide how much you can afford to spend on your condo. Decide on a price that you are comfortable with and stick to is so you won’t be overextended after you close your condo.
3. Decide where you want to live. Choose a neighborhood and condo project that fit your lifestyle in a location that is convenient for you.
4. If you are interested in finding a buyers broker to help you through the closing process now is the time to find one. A broker can help you find the unit that you want and help with the negotiation process.
5. Find your condo unit.
6. Write a purchase contract
7. Educate yourself on what the market is currently doing so you can have the upper hand during the negotiation process.
8. Negotiate the deal.
9. Have the condo inspected. This could be the best $200 dollars you ever spent.
10. Obtain attorney approval on the contract.
11. Get your loan approved by your loan officer.
12. Close on your condo unit.
13. Enjoy the stunning cityscape from the living room of your new condo.